4,477 Shares in argenex SE (NASDAQ:ARGX) Acquired by Independent Advisor Alliance

Key Points

• Independent Advisor Alliance invested $2.65 million in argenex SE, acquiring 4,477 shares during the first quarter, signaling growing institutional interest in the company.
• argenex reported a $3.74 EPS for the last quarter, significantly exceeding the consensus estimate of $2.84, and recorded a net margin of 40.98%.
• Analysts have a consensus rating of "Buy" for argenex with a target price of $746.81, highlighting strong market confidence in the company's future performance.

Independent Advisor Alliance bought a new stake in argenex SE (NASDAQ:ARGX - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 4,477 shares of the company's stock, valued at approximately $2,650,000.

A number of other institutional investors have also made changes to their positions in ARGX. Point72 Europe London LLP bought a new stake in shares of argenex in the fourth quarter valued at about $5,839,000. Ameriprise Financial Inc. increased its stake in argenex by 10.0% during the 4th quarter. Ameriprise Financial Inc. now owns 7,013 shares of the company's stock worth $4,313,000 after acquiring an additional 639 shares during the period. Sowell Financial Services LLC acquired a new stake in argenex in the first quarter valued at about $332,000. Cetera Investment Advisers grew its holdings in shares of argenex by 33.1% during the 1st quarter. Cetera Investment Advisers now owns 5,491 shares of the company's stock valued at $3,250,000 after purchasing an additional 1,364 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of argenex by 21.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 24,929 shares of the company's stock worth $15,332,000 after buying an additional 4,445 shares during the last quarter. Institutional investors own 60.32% of the company's stock.

argenex Stock Performance

NASDAQ:ARGX traded up $5.83 during trading on Thursday, reaching $652.43. The company's stock had a trading volume of 220,972 shares, compared to its average volume of 377,165. The firm has a market cap of $39.93 billion, a price-to-earnings ratio of 33.46, a price-to-earnings-growth ratio of 0.73 and a beta of 0.39. The firm has a 50 day moving average of $584.30 and a 200-day moving average of $597.90. argenex SE has a 12 month low of $510.05 and a 12 month high of $696.21.

argenex (NASDAQ:ARGX - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The company reported $3.74 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.84 by $0.90. The firm had revenue of $866.79 million during the quarter, compared to the consensus estimate of $776.82 million. argenex had a return on equity of 21.06% and a net margin of 40.98%. Equities research analysts forecast that argenex SE will post 3.13 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on ARGX shares. JPMorgan Chase & Co. boosted their price objective on argenex from $775.00 to $830.00 and gave the stock an "overweight" rating in a research report on Monday, August 4th. Robert W. Baird raised shares of argenex from a "neutral" rating to an "outperform" rating and set a $680.00 target price on the stock in a research note on Tuesday, May 13th. Baird R W raised argenex from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 13th. Morgan Stanley upped their price target on argenex from $700.00 to $766.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Finally, Wells Fargo & Company upped their price target on argenex from $741.00 to $756.00 and gave the stock an "overweight" rating in a research note on Thursday, July 31st. Eighteen research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $746.81.

argenex Company Profile

argenx SE, a biotechnology company, engages in the developing of various therapies for the treatment of autoimmune diseases in the United States, Japan, Europe, Middle East, Africa, and China. Its lead product candidate is efgartigimod for the treatment of patients with myasthenia gravis, immune thrombocytopenia, pemphigus vulgaris, generalized myasthenia gravis, chronic inflammatory demyelinating polyneuropathy, thyroid eye disease, bullous pemphigoid, myositis, primary sjögren's syndrome, post-covid postural orthostatic tachycardia syndrome, membranous nephropathy, lupus nephropathy, anca-associated vasculitis, and antibody mediated rejection; ENHANZE SC; Empasiprubart for multifocal motor neuropath, delayed graft function, and dermatomyositis; and ARGX-119 for congenital myasthenic syndrome and amyotrophic lateral sclerosis.